President Bola Tinubu has outlined a stark choice for Nigerian motorists saying that they can either continue purchasing petrol (Premium Motor Spirit) at the steep price of N1,000 per litre or transition to a more affordable alternative Compressed Natural Gas (CNG) at N200 per Standard Cubic Metre. This announcement comes as part of the government’s broader strategy to address the rising cost of fuel and promote cleaner, cheaper energy solutions.
During a recent meeting at the State House in Abuja, Tinubu engaged with executives from the Nigerian Independent Petroleum Company (NIPCO), led by Director Mr. Ramesh Kasangra. The president’s Special Adviser on Information and Strategy, Bayo Onanuga, shared details of the discussion in a statement titled, “President Tinubu meets NIPCO executives, commends investments in the CNG sector.”
President Tinubu underscored the role of CNG as a vital alternative to petrol, emphasising that motorists now have an economically viable option. “Nigeria’s motorists can buy petrol at N1,000 per litre or equivalent gas per Standard Cubic Metre at N200,” Tinubu said, highlighting the significant price disparity. He further announced that commercial motorists could convert their vehicles from petrol to CNG at no cost, thanks to newly introduced government incentives.
This push for CNG adoption aligns with the administration’s ongoing efforts to promote energy security and economic diversification. Tinubu noted that expanding the use of CNG is a crucial step towards reducing the nation’s dependency on imported fuel, which has become increasingly expensive following the removal of fuel subsidies earlier in 2024. He positioned CNG as not only a cheaper alternative but also a cleaner, environmentally friendly option, thus contributing to the government’s climate goals.
The president praised NIPCO for its critical role in advancing CNG as a fuel choice in Nigeria. The company’s early investments in the CNG sector, particularly its efforts to provide affordable CNG conversion kits, have laid the groundwork for the government’s broader “Switch to CNG” initiative. Tinubu acknowledged that NIPCO’s proactive stance has been instrumental in raising public awareness and preparing the market for a nationwide shift towards natural gas.
“Before the official launch of the Presidential CNG Initiative, NIPCO was already promoting CNG as a viable fuel option, providing conversion kits to drivers and creating the infrastructure necessary to support this transition,” Tinubu noted. He commended the company’s foresight and dedication to helping Nigeria achieve energy independence.
During the meeting, President Tinubu reiterated the importance of public-private partnerships in realising Nigeria’s energy goals. He stressed that collaborations between the government and industry stakeholders like NIPCO are essential for driving the adoption of cleaner, more affordable energy solutions.
Tinubu’s administration is keen on leveraging the private sector’s expertise and resources to accelerate the country’s transition away from petrol. By working with companies such as NIPCO, the government aims to create an ecosystem that supports widespread CNG usage, from infrastructure development to public education.
The president also reaffirmed his commitment to providing incentives for motorists and businesses to make the switch to CNG. These measures are designed to ease the financial burden on Nigerians, particularly in light of the current economic challenges caused by fuel price increases and inflation.
President Tinubu’s remarks signal a major shift in Nigeria’s energy landscape. The introduction of CNG as a mainstream fuel alternative is not just a response to rising petrol costs but a strategic move towards a more sustainable energy future. The president’s CNG initiative aims to ensure that Nigerians have access to affordable energy, reduce the country’s carbon footprint, and lower its reliance on volatile global oil markets.
With petrol prices hovering around N1,000 per litre, the government’s push for CNG adoption is timely. CNG offers not only a cost-effective solution for motorists but also a way for Nigeria to harness its abundant natural gas reserves. This transition will ultimately reduce the nation’s fuel import bill and stimulate local production, contributing to broader economic growth.
As Nigeria continues to grapple with the aftermath of fuel subsidy removal, the adoption of CNG presents a clear path forward. Tinubu’s administration is betting on CNG to provide relief to millions of Nigerians who have been hit hard by skyrocketing petrol prices. The president’s vision for the future is one where CNG becomes a dominant fuel source, helping to stabilise the energy market and providing long-term economic benefits.
The success of this initiative, however, will depend on the government’s ability to scale up CNG infrastructure across the country. This includes building more CNG refuelling stations, ensuring the availability of conversion kits, and providing ongoing support to both commercial and private motorists. Additionally, public awareness campaigns will be crucial in convincing Nigerians to embrace CNG as a reliable and sustainable alternative to petrol.
In conclusion, Tinubu’s message to Nigerians is clear: the choice between petrol and CNG represents a crucial decision in the nation’s energy future. As fuel prices continue to rise, the adoption of CNG could provide much-needed relief, offering a cheaper, cleaner, and more sustainable option for Nigerian drivers. Through partnerships with companies like NIPCO and continued government support, the president’s CNG initiative could mark the beginning of a new era in Nigeria’s energy sector, one that prioritises affordability, environmental sustainability, and economic resilience.
